Choose a Retirement Plan to Fit Your Needs
You will likely consider many factors when choosing a retirement plan for your business. When it comes to the plan you will offer and your investment options, NestEggVault has you covered. We offer a range of customizable options for you, your employees, and your business.
A Savings Incentive Match Plan for Employers (SIMPLE) plan allows businesses with as few as two employees to establish a 401(k) plan or an IRA.
One of the benefits of a 401(k) plan for employees is that they can save for retirement through pretax and Roth 401(k) contributions. You have the option to match part or all of the employee’s deferrals.
Allows your business to divide discretionary contributions among employees. Contributions can be allocated using new comparability or other common methods.
Safe Harbor 401(k)
Automatically satisfies certain nondiscrimination testing, encourages employee participation, maximizes salary deferrals for high-wage employees, and is simple to administer.
Allows one-person businesses with no employees (except for certain family members) to maximize salary deferral contributions without the hassle of compliance testing.
Compare Retirement Plans
|Feature||Traditional 401(k) and Owner Only||401(k) Safe Harbor||Profit Sharing|
|Can Amend to a Traditional 401(k)||N/A||Yes||Yes|
|Maximum Employee Deferral||$18,000*||$18,000*||N/A|
|Roth Contribution||Yes, within deferral limit||Yes, within deferral limit||N/A|
|Catch-up Contributions (for participants 50 or older)||$6,000*||$6,000*||N/A|
|Employer Contribution||Employer option||Matching contribution of 100%, up to 3% of compensation, and 50% of the next 2%,
Non-elective contribution of 3% of compensation to all eligible participants
|Lesser of 25%, of employee compensation or $53,000 per individual*|
|Vesting||Options available||Immediate (Safe Harbor contributions)
Options available (Other contributions)
|Top-Heavy Testing||Yes||Generally satisfied||Yes|
|Investment Providers||Choice of many||Choice of many||Choice of several|
|Compatible with Money Purchase and Profit Sharing Plans||Yes||Yes||N/A|
*Limit indexed annually by the IRS.
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